Cellebrite DI (CLBT) 6-K 15 Aug 24 Consolidated Financial Statements Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2024
Document Information Line Items
Entity Registrant Name	Cellebrite DI Ltd.
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001854587
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-40772

Interim Consolidated Balance Sh

Interim Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents		$ 106,956	$ 189,517
Short-term deposits		126,723	74,713
Marketable securities		71,630	38,693
Trade receivables (net of allowance for credit losses of $2,019 and $1,583 as of June 30, 2024 and December 31, 2023, respectively)		70,699	77,269
Prepaid expenses and other current assets		24,443	26,400
Contract acquisition costs		5,516	5,550
Inventories		8,784	9,940
Total current assets		414,751	422,082
Non-current assets
Other non-current assets		8,224	7,341
Marketable securities		60,652	28,859
Deferred tax assets, net		8,806	7,024
Property and equipment, net		15,806	15,896
Intangible assets, net		9,807	10,594
Goodwill		26,829	26,829
Operating lease right-of-use assets, net		11,708	14,260
Total non-current assets		141,832	110,803
Total assets		556,583	532,885
Current Liabilities
Trade payables		6,510	8,282
Other accounts payable and accrued expenses		42,259	44,845
Deferred revenues		183,938	195,725
Operating lease liabilities		4,521	4,972
Total current liabilities		237,228	253,824
Long-term liabilities
Other long-term liabilities		6,492	5,515
Deferred revenues		42,369	47,098
Restricted Sponsor Shares liability		75,230	47,247
Price Adjustment Shares liability		134,758	81,715
Warrant liability		93,510	54,117
Operating lease liabilities		7,155	9,157
Total long-term liabilities		359,514	244,849
Total liabilities		596,742	498,673
Shareholders’ (deficiency) equity
Share capital, NIS 0.00001 par value; 3,454,112,863 shares authorized, 207,675,806 and 203,272,704 shares issued and 207,634,030 and 203,230,928 shares outstanding as of June 30, 2024 (unaudited) and December 31, 2023, respectively	[1]
Additional paid-in capital		(64,284)	(84,896)
Treasury share, NIS 0.00001 par value; 41,776 ordinary shares		(85)	(85)
Accumulated other comprehensive income		1,250	1,050
Retained earnings		22,960	118,143
Total shareholders’ (deficiency) equity		(40,159)	34,212
Total liabilities and shareholders’ (deficiency) equity		$ 556,583	$ 532,885
[1]Less than 1 USD

Interim Consolidated Balance _2

Interim Consolidated Balance Sheets (Parentheticals) $ in Thousands	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 ₪ / shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 ₪ / shares
Statement of Financial Position [Abstract]
Allowance for credit losses (in Dollars) | $	$ 2,019		$ 1,583
Share capital, par value (in New Shekels per share) | ₪ / shares		₪ 0.00001		₪ 0.00001
Share capital, shares authorized	3,454,112,863		3,454,112,863
Share capital, shares issued	207,675,806		203,272,704
Share capital, shares outstanding	207,634,030		203,230,928
Treasury share, par value (in New Shekels per share) | ₪ / shares		₪ 0.00001		₪ 0.00001
Treasury share, ordinary shares	41,776		41,776

Interim Consolidated Statements

Interim Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Revenue	$ 185,296	$ 147,918
Cost of revenue:
Cost of revenue	29,525	25,437
Gross profit	155,771	122,481
Operating expenses:
Research and development	46,890	42,184
Sales and marketing	64,379	54,346
General and administrative	22,768	21,192
Total operating expenses	134,037	117,722
Operating income	21,734	4,759
Financial expense, net	(113,078)	(74,826)
Loss before tax	(91,344)	(70,067)
Tax expense	3,839	2,886
Net loss	$ (95,183)	$ (72,953)
Loss per share
Basic (in Dollars per share)	$ (0.48)	$ (0.37)
Diluted (in Dollars per share)	$ (0.48)	$ (0.37)
Weighted average shares outstanding
Basic (in Shares)	197,840,662	187,239,136
Diluted (in Shares)	197,840,662	187,239,136
Subscription
Revenue:
Revenue	$ 164,590	$ 128,488
Cost of revenue:
Cost of revenue	12,197	9,440
Other non-recurring
Revenue:
Revenue	7,054	4,890
Cost of revenue:
Cost of revenue	7,920	5,907
Professional services
Revenue:
Revenue	13,652	14,540
Cost of revenue:
Cost of revenue	9,408	10,090
Subscription services | Subscription
Revenue:
Revenue	127,841	97,879
Cost of revenue:
Cost of revenue	12,197	9,438
Term license | Subscription
Revenue:
Revenue	36,749	30,609
Cost of revenue:
Cost of revenue		$ 2

Interim Consolidated Statemen_2

Interim Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (95,183)	$ (72,953)
Change in foreign currency translation adjustment	1,370	(966)
Change in unrealized (losses) gains on marketable securities:
Unrealized (losses) gains arising during the period	(320)	126
Net change (net of tax effect of $98 and $(48))	(320)	126
Change in unrealized (losses) gains on cash flow hedges:
Unrealized losses arising during the period	(652)	(671)
Less -reclassification adjustment for net (losses) gains realized and included in net income	(198)	697
Net change (net of tax effect of $116 and (4))	(850)	26
Total other comprehensive income (loss)	200	(814)
Comprehensive loss	$ (94,983)	$ (73,767)

Interim Consolidated Statemen_3

Interim Consolidated Statements of Comprehensive Loss (Unaudited) (Parentheticals) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net change (net of tax effect)	$ 98	$ (48)
Net change net of tax effect	$ 116	$ (4)

Interim Consolidated Statement

Interim Consolidated Statement of Changes in Shareholders’ (Deficiency) Equity (Unaudited) - USD ($) $ in Thousands	Ordinary Shares	Share Capital	[1]	Additional paid in capital	Treasury Share	Retained earnings	Accumulated other comprehensive income	Total
Balance at Dec. 31, 2022				$ (125,624)		$ 199,243	$ 331	$ 73,865
Balance (in Shares) at Dec. 31, 2022	193,014,155				(85)
Exercise of share option and vested RSUs and ESPP				8,401				8,401
Exercise of share option and vested RSUs and ESPP (in Shares)	4,353,685
Share-based compensation expense and ESPP benefit				9,057				9,057
Other comprehensive loss							(814)	(814)
Net loss						(72,953)		(72,953)
Balance at Jun. 30, 2023				(108,166)		126,290	(483)	17,556
Balance (in Shares) at Jun. 30, 2023	197,367,840				(85)
Balance at Dec. 31, 2023				(84,896)		118,143	1,050	$ 34,212
Balance (in Shares) at Dec. 31, 2023	203,230,928				(85)			203,230,928
Exercise of share option and vested RSUs and ESPP				8,361				$ 8,361
Exercise of share option and vested RSUs and ESPP (in Shares)	4,403,102							2,487,028
Share-based compensation expense and ESPP benefit				12,251				$ 12,251
Other comprehensive loss							200	200
Net loss						(95,183)		(95,183)
Balance at Jun. 30, 2024				$ (64,284)		$ 22,960	$ 1,250	$ (40,159)
Balance (in Shares) at Jun. 30, 2024	207,634,030				(85)			207,634,030
[1]Less than 1 USD

Interim Consolidated Statemen_4

Interim Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flow from operating activities:
Net loss	$ (95,183)	$ (72,953)
Adjustments to reconcile net income to net cash provided by operating activities:
Share based compensation	12,251	9,057
Amortization of premium, discount and accrued interest on marketable securities	(1,302)	(461)
Depreciation and amortization	5,256	5,016
Interest income from short term deposits	(5,470)	(2,397)
Deferred income taxes	(1,568)	462
Remeasurement of warrant liability	39,393	22,263
Remeasurement of Restricted Sponsor Shares	27,983	20,093
Remeasurement of Price Adjustment Shares liabilities	53,043	36,597
Decrease in trade receivables	6,021	18,117
(Decrease) increase in deferred revenue	(15,055)	10,555
Increase in other non-current assets	(883)	(1,062)
Decrease (increase) in prepaid expenses and other current assets	2,752	(5,624)
Changes in operating lease assets	2,641	2,700
Changes in operating lease liability	(2,542)	(2,962)
Decrease (increase) in inventories	1,151	(642)
(Decrease) increase in trade payables	(1,591)	381
Decrease in other accounts payable and accrued expenses	(3,320)	(9,741)
Increase (decrease) in other long-term liabilities	977	(347)
Net cash provided by operating activities	24,554	29,052
Cash flows from investing activities:
Purchases of property and equipment	(3,568)	(1,889)
Purchase of Intangible assets	(904)
Investment in marketable securities	(99,282)	(27,005)
Proceeds from maturity of marketable securities	35,436	29,507
Investment in short-term deposits	(122,000)	(54,000)
Redemption of short-term deposits	75,459	38,581
Net cash used in investing activities	(114,859)	(14,806)
Cash flows from financing activities:
Exercise of options to shares	6,887	7,185
Proceeds from Employee Share Purchase Plan	1,506	1,234
Net cash provided by financing activities	8,393	8,419
Net (decrease) increase in cash and cash equivalents	(81,912)	22,665
Net effect of Currency Translation on cash and cash equivalents	(649)	192
Cash and cash equivalents at beginning of period	189,517	87,645
Cash and cash equivalents at end of period	106,956	110,502
Supplemental cash flow information:
Income taxes paid	2,557	8,527
Non-cash activities
Operating lease liabilities arising from obtaining right of use assets	$ 215	$ 1,258

General

General	6 Months Ended
	Jun. 30, 2024
General [Abstract]
General	Note 1. General Cellebrite DI Ltd. (the “Company”), an Israeli company, was incorporated on April 13, 1999 as a private company, and began its operations in July 1999. The Company and its wholly owned subsidiaries delivering a digital investigative (“DI”) suite of solutions comprising software and services for legally sanctioned investigations. The Company’s DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations The Company’s primary shareholder is SUNCORPORATION, a public company traded in the Japanese market (see also Note 12). On April 8, 2021, the Company entered into a Business Combination Agreement and Plan of Merger (the “Merger Agreement”) with TWC Tech Holdings II Corp. (“TWC”), a public listed company in Nasdaq and Cupcake Merger Sub, Inc., a new wholly-owned subsidiary of Cellebrite (the “Merger Sub”) in the USA. TWC is a Special Purpose Acquisition Company (“SPAC”). On August 30, 2021, the Merger was consummated. Upon the terms and subject to the conditions of the Merger Agreement, at the Effective Time, Merger Sub merged with and into TWC, the separate corporate existence of Merger Sub ceased and TWC became the surviving corporation and a wholly-owned subsidiary of the Company (the “Merger”). TWC became a wholly-owned subsidiary of the Company and the security holders of TWC became security holders of the Company. In December 2023, TWC was dissolved.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies A. Unaudited interim consolidated financial statements: The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information. In the opinion of management, the unaudited interim consolidated financial statements include all adjustments necessary for a fair presentation. The balance sheet as of December 31, 2023 has been derived from the audited consolidated financial statements of the Company at that date but does not include all information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2023. Results for the six months ended June 30, 2024 are not necessarily indicative of results that may be expected for the year ending December 31, 2024. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2023, have been applied consistently in these unaudited interim condensed consolidated financial statements. Trade Receivable and Allowances Trade receivables are recorded net of credit losses allowance for any potential uncollectible amounts. The Company makes estimates of expected credit and collectability trends for the allowance for credit losses based upon its assessment of various factors, including historical collectability experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers. As of June 30, 2024 and December 31, 2023, the allowances for credit losses of trade receivable were $2,019 The Company writes off receivables when they are deemed uncollectible, having exhausted all collection efforts. Actual collection experience may not meet expectations and may result in increased bad debt expense. B. Use of estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods and accompanying notes. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, but are not limited to, the allocation of transaction price among various performance obligation, the fair value of acquired intangible assets and goodwill in a business combination, share-based compensation, unrecognized tax benefits, marketable securities, fair value measurement of restricted sponsor shares liability, price adjustment shares liability and warrant liabilities. C. Fair value measurements The Company accounts for fair value in accordance with ASC 820, “Fair Value Measurements and Disclosures”. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a three-tier hierarchy, which prioritizes the inputs used in measuring fair value as follows: ● Level 1: Quoted prices in active markets for identical assets or liabilities. ● Level 2: Inputs other than Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. ● Level 3: Unobservable inputs for the asset or liability used to measure fair value that are supported by little or no market activity and that re significant to the fair value of the asset or liability at measurement date. The carrying value of trade receivable and payables and the Company’s cash and cash equivalents and short-term deposits, approximates fair value due to the short time to expected payment or receipt of cash. D . Revenue recognition The Company’s revenues are comprised of four main categories: (a) Subscription Services, including support services (updates, upgrades and technical support) on term-based licenses; (b) Term Licenses; (c) other non-recurring; and (d) professional services. The Company recognizes revenue pursuant to the five-step framework contained in ASC 606, Revenue from Contracts with Customers: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract, including whether they are distinct in the context of the contract; (iii) determine the transaction price, including the constraint on variable consideration; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies the performance obligations The Company sells its products to its customers either directly or indirectly through distribution channels all of whom are considered end users. In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services are delivered. The amount of revenue recognized reflects the consideration that the Company expects to receive in exchange for these goods or services. The Company determines that it has a contract with a customer when each party’s rights regarding the products or services to be transferred can be identified, the payment terms for the services can be identified, the Company has Performance obligations promised in a contract are identified based on the products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the products or services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the products and services is separately identifiable from other promises in the contract. The Company’s software licenses either provide its customers the right to use its software for a fixed term, or a perpetual right to use its software, in most cases between a one-year and three-year time frame. The Company concluded that the software license is distinct as the customer can benefit from the software on its own. Subscription revenue is derived from maintenance and support under renewable subscription, fee-based contracts that include unspecified software updates and upgrades released when and if available as well as software support. Customers with active subscriptions are also entitled to our technical customers’ support. Performance obligations related to software maintenance services generally have a consistent continuous pattern of transfer to a customer during the contract period. Other non-recurring revenue derived mostly from hardware sold mainly in conjunction with new software license, perpetual license and usage-based fees. Professional services revenues primarily consist of: (i) certified training classes by Cellebrite Academy; (ii) our advanced services; (iii) implementation of our products in connection with our software licenses and (iv) on premise contracted customer success and technical support. Each of these performance obligations provide benefit to the customer on a standalone basis and are distinct in the context of the contract. The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring products or delivery of services to the customer. Payment terms generally are 30 days. The Company applied the practical expedient in ASC 606 and did not evaluate payment terms of one year or less for the existence of a significant financing component. Revenue is recognized net of any taxes collected from customers which are subsequently remitted to governmental entities (e.g., sales tax and other indirect taxes). The Company does not offer right of return to its contracts. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. For contracts that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation based on the relative standalone selling price (“SSP”) for each performance obligation. The Company uses judgment in determining the SSP for its products and services. The Company typically assesses the SSP for its products and services on a periodic basis or when facts and circumstances change. To determine SSP, the Company maximizes the use of observable standalone sales and observable data, where available. In instances where performance obligations do not have observable standalone sales, the Company utilizes available information that may include the entity specific factors such as assessment of historical data of bundled sales of software licenses with other promised goods and services, and pricing strategies to estimate the price the Company would charge if the products and services were sold separately. The Company satisfies performance obligations either over time or at a point in time depending on the nature of the underlying promise. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised good or service to a customer. Revenues related to the license for proprietary software are recognized when the control over the license is provided to the customer and the license term begins. Revenue related to software update and upgrades are recognized ratably over the service period. Revenues related to other professional services are recognized as services are performed. E. Recently issued accounting pronouncements Recently issued accounting pronouncements not yet adopted: In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements through enhanced disclosures about significant segment expenses on an interim and annual basis. All disclosure requirements of ASU 2023-07 are required for entities with a single reportable segment. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods for the fiscal years beginning after December 15, 2024, and should be applied on a retrospective basis to all periods presented. Early adoption is permitted. The Company is currently evaluating the effect of adopting the ASU on its disclosures. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis. The Company is currently evaluating the effect of adopting the ASU on its disclosures. F. Concentrations of credit risk Financial instruments that potentially expose the Company and its subsidiaries to concentrations of credit risk consist principally of cash and cash equivalents, short-term investments, trade receivables and other receivables. The majority of the Company’s cash and cash equivalents are invested in deposits mainly in dollars with major international banks. Generally, these cash and cash equivalents and short-term investment may be redeemed upon demand. Management believes that the financial institutions that hold the Company’s and its subsidiaries’ cash and cash equivalents are institutions with high credit standing, and accordingly, minimal credit risk exists with respect to these assets. The Company’s trade receivables are geographically diversified and derived from sales to customers all over the world. The Company mitigates its credit risks by performing an ongoing credit evaluations of its customers’ financial conditions. The Company and its subsidiaries generally do not require collateral; however, in certain circumstances, the Company and its subsidiaries may require letters of credit, additional guarantees or advance payments. The Company’s marketable securities consist of investments in government, corporate and government sponsored enterprises debentures. The Company’s investment policy, approved by the Board of Directors, limits the amount that the Company may invest in any one type of investment, or issuer, thereby reducing credit risk concentrations. The Company enters into foreign currency forward and option contracts intended to protect cash flows resulting from scheduled payments such as payroll and rent related expenses against the volatility in value of forecasted non-dollar currency. The derivative instruments hedge a portion of the Company's non-dollar currency exposure.

Marketable securities

Marketable securities	6 Months Ended
	Jun. 30, 2024
Marketable securities [Abstract]
Marketable securities	Note 3. Marketable securities Marketable securities consisted of the following: As of June 30, 2024 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (Unaudited) Corporate bond 48,648 — (209 ) 48,439 Agency bond 58,714 2 (161 ) 58,555 Treasury bills 10,029 — (1 ) 10,028 US Government 15,303 — (43 ) 15,260 Total 132,694 2 (414 ) 132,282 As of December 31, 2023 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Corporate bond 18,521 57 (29 ) $ 18,549 Agency bond 40,487 63 (64 ) $ 40,486 US Government 8,538 13 (34 ) $ 8,517 Total 67,546 133 (127 ) 67,552 As of June 30, 2024 and , no The allowance for credit losses for the six months ended June 30, 2024 was not material. The following table summarizes the Company’s marketable securities by contractual maturities: June 30, (Unaudited) Due in 1 year or less $ 71,630 Due in 1 year through 2 years 60,652 Total $ 132,282

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2024
Derivative Instruments [Abstract]
Derivative Instruments	Note 4. Derivative Instruments Company’s risk management strategy includes the use of derivative financial instruments to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. ASC 815, "Derivatives and Hedging" ("ASC 815"), requires the Company to recognize all of its derivative instruments as either assets or liabilities on the balance sheet at fair value. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, an entity must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation. Gains and losses on derivatives instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that are attributable to a particular risk), are recorded in accumulated other comprehensive income (loss) and reclassified into statement of income in the same accounting period in which the designated forecasted transaction or hedged item affects earnings. The Company entered into option and forward contracts to hedge a portion of anticipated New Israeli Shekel ("NIS") payroll and benefit payments. These derivative instruments are designated as cash flow hedges, as defined by ASC 815 and accordingly are measured at fair value. These transactions are effective and, as a result, gain or loss on the derivative instruments are reported as a component of accumulated other comprehensive income and reclassified as Cost of revenues and Operating expenses, at the time that the hedged income/expense is recorded. Net Notional amount Fair value June 30, December 31, June 30, December 31, (Unaudited) (Unaudited) Option contracts to hedge payroll expenses NIS 26,370 32,158 29 995 The Company currently hedges its exposure to the variability in future cash flows for a maximum period of one year. As of June 30, 2024, the Company expects to reclassify all of its unrealized gains and losses from accumulated other comprehensive loss to earnings during the next twelve months. The fair value of the Company's outstanding derivative instruments on June 30, 2024 and December 31, 2023 is summarized below: Fair value of derivative instruments June 30, December 31, 2024 2023 Balance Sheet line item (Unaudited) Derivative liabilities: Foreign exchange option contracts Prepaid expenses and other current assets $ 291 $ 1,159 Foreign exchange option contracts Other account payable $ (262 ) $ (164 ) The effect of derivative instruments in cash flow hedging relationship on other comprehensive loss for the six month ended and , is summarized below: Amount of loss recognized in other comprehensive loss on derivative, net of tax Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Derivatives in foreign exchange cash flow hedging relationships: Forward contracts — (151 ) Option contracts (652 ) (520 ) $ (652 ) $ (671 ) Derivatives in foreign exchange cash flow hedging relationships for the six month ended and , is summarized below: Amount of gain reclassified from other comprehensive income into (expenses) income, net of tax Six months ended June 30, 2024 2023 Statements of income line (Unaudited) (Unaudited) Option contracts to hedge payroll and facility expenses Cost of revenues and operating expenses (198 ) 405 Forward contracts to hedge payroll and facility expenses Cost of revenues, operating expenses and financial expenses — 292 $ (198 ) $ 697

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Note 5. Leases The Company entered into operating leases primarily for offices. The leases have remaining lease terms of up to 7.7 years, some of which may include options to extend the leases for up to an additional of 1 year. The components of operating lease costs were as follows: Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Operating lease cost $ 2,782 $ 2,485 Short-term lease cost 93 135 Variable lease cost 166 76 Total net lease costs $ 3,041 $ 2,696 Supplemental balance sheet information related to operating leases is as follows: June 30, December 31, 2024 2023 (Unaudited) Operating lease ROU assets $ 11,708 $ 14,260 Operating lease liabilities, current $ 4,521 $ 4,972 Operating lease liabilities, long-term $ 7,155 $ 9,157 Weighted average remaining lease term (in years) 4.63 4.59 Weighted average discount rate 2.73 % 2.48 % Minimum lease payments for the Company’s ROU assets over the remaining lease periods as of June 30, 2024, are as follows: Operating Leases 2024 $ 3,012 2025 4,687 2026 2,279 2027 1,196 2028 and thereafter 3,417 Total undiscounted lease payments 14,591 Less: imputed interest (2,915 ) Present value of lease liabilities $ 11,676

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2024
Commitments and Contingent Liabilities [Abstract]
Commitments and contingent liabilities	Note 6. Commitments and contingent liabilities From time to time, the Company may be involved in various claims and legal proceedings. The Company reviews the status of each matter and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated the Company would accrue a liability for the estimated loss. As of June 30, 2024 and December 31, 2023, the Company is not involved in any claims or legal proceedings which require accrual of liability for the estimated loss.

Shareholders_ Equity

Shareholders’ Equity	6 Months Ended
	Jun. 30, 2024
Shareholders’ Equity [Abstract]
Shareholders’ equity	Note 7. Shareholders’ equity a. Ordinary Shares As of June 30, 2024 and December 31, 2023, the Company was authorized to issue 3,454,112,863 Ordinary Shares confers upon its holders the following rights: i. The right to participate and vote in the Company’s general meetings. Each share will entitle its holder, when attending and participating in the voting to one vote; ii. Dividends or distribution shall be paid or be made to the holders of Ordinary Shares, shall be in an amount equal the product of the dividend or distribution payable or made on each Ordinary Share determined as if all preferred shares had been converted into Ordinary Shares and the number of Ordinary Shares issuable upon conversion of such preferred share, in each case calculated on the record date for determination of holders entitled to receive such dividend or distribution; and iii. The right to a share in the distribution of the Company’s excess assets upon liquidation pro rata to the par value of the share held by them. b. Option Plan and RSUs: A summary of the status of options under the Plan as of June 30, 2024 and changes during the relevant period ended on that date is presented below: Number of Weighted- Weighted- Aggregate (Unaudited) Outstanding at December 31, 2023 15,728,176 $ 3.83 6.23 75,997 Granted 769,008 10.41 Exercised 2,487,028 2.80 Forfeited 122,823 5.95 Expired 5,297 8.27 Outstanding at June 30, 2024 13,882,036 $ 4.36 6.15 105,409 Exercisable at June 30, 2024 9,905,245 $ 3.21 5.06 86,556 The weighted average fair values at grant date of options granted for the six months ended June 30, 2024 and 2023 were $5.50 and A summary of the status of RSUs under the Plan as of June 30, 2024 and changes during the relevant period ended on that date is presented below : June 30, (Unaudited) Unvested at beginning of year 8,160,149 Granted 2,547,701 Vested 1,708,047 Forfeited 518,079 Unvested at end of the period 8,481,724 The weighted average fair value at grant date of RSUs granted for the six months ended June 30, 2024 was $9.64. The Company used the following weighted-average assumptions for options granted to employees and non-employees: Six months ended 2024 Contractual period in years 10 Volatility 45.9% - 50.1% Risk free interest rate 4.2% - 4.4% Dividend yield 0% Exercise price $9.25 - $11.53 Fair value of Ordinary Share $9.25 - $11.53 Expected term 6.12 c. 2021 Employee Share Purchase Plan: On August 5, 2021, the Company adopted the 2021 Employee Share Purchase Plan (“ESPP”). The aggregate number of Shares that may be issued pursuant to rights granted under the ESPP shall be 1,871,687 Shares. In addition, on the first day of each calendar year beginning on January 1, 2023 and ending on and including January 1, 2033, the number of Shares available for issuance under the Plan shall be increased by that number of Shares equal to the lesser of (a) 1.0% of the Shares outstanding on the last day of the immediately preceding calendar year, as determined on a fully diluted basis, and (b) such smaller number of Shares as may be determined by the Board. If any right granted under the ESPP shall for any reason terminate without having been exercised, the Shares not purchased under such right shall again become available for issuance under the ESPP. T Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Cost of revenues $ 1,093 $ 800 Research and development 3,071 2,281 Sales and marketing 4,391 3,179 General and administrative 3,696 2,797 12,251 9,057 As of June 30, 2024, there were unrecognized compensation costs of $64,726, which are expected to be recognized over a weighted average period of approximately 2.98 years.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2024
Net Loss Per Share [Abstract]
Net loss per share	Note 8. Net loss per share The following table sets forth the computation of basic losses per share: Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Numerator: Net loss $ (95,183 ) $ (72,953 ) Basic net loss attributable to Ordinary shareholders (95,183 ) (72,953 ) Basic net loss attributable to Restricted sponsor shares — — Denominator: Weighted average number of Ordinary Shares used in computing basic loss per share 197,840,662 187,239,136 Basic net loss per share of Ordinary shareholders $ (0.48 ) $ (0.37 ) Weighted average number of Ordinary Shares used in computing diluted net loss per share 197,840,662 187,239,136 Diluted loss per share of Ordinary shareholders $ (0.48 ) $ (0.37 ) The number of shares related to outstanding anti-dilutive options excluded from the calculations of diluted net earnings per share was 12,776,024 for the six months ended June 30, 2024.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Measurements [Abstract]
Fair value measurements	Note 9. Fair value measurements The following table presents information about the Company’s assets and liabilities fair value at June 30, 2024 and December 31, 2023 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: As of June 30, 2024 Fair value measurements using input type Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 59,214 $ — $ — $ 59,214 Commercial deposits — 756 — 756 Marketable securities: Corporate and Agency bonds — 106,994 — 106,994 Treasury bills 10,028 10,028 US Government — 15,260 — 15,260 Foreign currency derivative contracts — 291 — 291 Total financial assets $ 59,214 $ 133,329 $ — $ 192,543 Liabilities: Restricted Sponsor Shares $ — $ — $ (75,230 ) $ (75,230 ) Price Adjustment Shares — — (134,758 ) (134,758 ) Public Warrants (57,798 ) — — (57,798 ) Private Placement Warrants — — (35,712 ) (35,712 ) Foreign currency derivative contracts — (262 ) — (262 ) Total financial liabilities $ (57,798 ) $ (262 ) $ (245,700 ) $ (303,760 ) As of December 31, 2023 Fair value measurements using input type Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 120,969 $ — $ — $ 120,969 Commercial deposits — 3,260 — 3,260 Marketable securities: Corporate and Agency bonds — 59,035 — 59,035 US Government — 8,517 — 8,517 Foreign currency derivative contracts — 1,159 — 1,159 Total financial assets $ 120,969 $ 71,971 $ — $ 192,940 Liabilities: Restricted Sponsor Shares $ — $ — $ (47,247 ) $ (47,247 ) Price Adjustment Shares — — (81,715 ) (81,715 ) Public Warrants (31,399 ) — — (31,399 ) Private Placement Warrants — — (22,718 ) (22,718 ) Foreign currency derivative contracts — (164 ) — (164 ) Total financial liabilities $ (31,399 ) $ (164 ) $ (151,680 ) $ (183,243 ) Warrant liability The Company has classified the warrants assumed during the Merger (both public and private) as a liability pursuant to ASC 815-40 since the warrants do not meet the equity classification conditions. Accordingly, the Company measured the warrants at their fair value. The warrants liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in our statement of comprehensive loss. Public Warrants Private Placement Total Warrant (Unaudited) Balance, December 31, 2023 $ 31,399 $ 22,718 $ 54,117 Change in fair value of warrant liability 26,399 12,994 39,393 Balance, June 30, 2024 $ 57,798 $ 35,712 $ 93,510 The estimated fair value of the private placement warrant liabilities is determined using Level 3 inputs. Inherent in a Black-Scholes valuation model are assumptions related to expected share-price volatility, expiration, risk-free interest rate and dividend yield. The Company estimates the volatility of its common share based on historical volatility of select peer companies that matches the expected remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expiration of the warrants. The dividend yield is based on the historical rate, which the Company anticipates will remain at 0%. The following table provides quantitative information regarding Level 3 fair value measurements inputs as their measurement dates: As of As of December 31, (Unaudited) Number of private placement warrants 9,666,667 9,666,667 Exercise price $ 11.5 $ 11.5 Share price $ 11.95 $ 8.66 Expiration term (in years) 2.16 2.66 Volatility 44.2 % 51.9 % Risk-free Rate 4.72 % 4.10 % Dividend yield 0 % 0 % Restricted sponsor shares liability and Price adjustment shares liability The restricted Sponsor shares liability and Price adjustment shares are measured at fair value using Level 3 inputs. The Company has determined that the price adjustment shares, and the restricted sponsor shares should be accounted for as liabilities measured at fair value through earnings since the restricted sponsor shares and the price adjustment shares are not eligible to be classified as equity pursuant to ASC 815-40 Restricted sponsor Price adjustment Total (Unaudited) Balance, December 31, 2023 $ 47,247 $ 81,715 $ 128,962 Change in fair value of warrant liability 27,983 53,043 81,026 Balance, June 30,2024 $ 75,230 $ 134,758 $ 209,988 The following table provides quantitative information regarding Level 3 fair value measurements inputs as their measurement dates: June 30, 2024 December 31, 2023 Restricted Price Restricted Price (Unaudited) Number of shares 7,500,000 15,000,000 7,500,000 15,000,000 Share price $12.5-$30 $12.5-$17.5 $12.5-$30 $12.5-$17.5 Remaining exercise period 4.16 2.16 4.66 2.66 Share value $6.32-$11.27 $7.28-$10.61 $3.62-$7.17 $4.47-$6.31

Revenues

Revenues	6 Months Ended
	Jun. 30, 2024
Revenues [Abstract]
Revenues	Note 10. Revenues Disaggregation of Revenues The following table provides information about disaggregated revenue by geographical areas Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) EMEA $ 65,096 $ 52,141 America 97,368 77,223 APAC 22,832 18,554 Total $ 185,296 $ 147,918 Contract Balances The following table provides information about accounts receivable, contract assets, and contract liabilities from contracts with customers: June 30, December 31, (Unaudited) Contract liabilities, current $ 183,938 $ 195,725 Contract liabilities, non-current 42,369 $ 47,098 Contract assets consist of unbilled accounts receivable, which occur when a right to consideration for the Company’s performance under the customer contract occurs before invoicing to the customer. The increase in contract balances is consistent with the increase in the overall operation of the Company. Contract liabilities consist of deferred revenue. Revenue is deferred when the Company invoices in advance of performance under a contract. The current portion of the deferred revenue balance is recognized as revenue during the 12-month period after the balance sheet date. The non current portion of the deferred revenue balance is recognized as revenue following the 12-month period after the balance sheet date. Of the $242,823 and $194,882 of deferred revenue as of December 31, 2023 and 2022, respectively, the Company recognized $122,089 $97,044 Remaining Performance Obligations The Company’s remaining performance obligations are comprised of product and services revenue not yet delivered. As of June 30, 2024 and December 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $324,110 and $331,996 respectively, which consists of both billed consideration in the amount of $226,307 and $242,823 respectively, and unbilled consideration in the amount of $97,803 and $89,173 respectively, that the Company expects to recognize as revenue. As of June 30, 2024, the Company expects to recognize the majority of its remaining performance obligations as revenue in the next 12 months.

Financial Expenses, Net

Financial Expenses, Net	6 Months Ended
	Jun. 30, 2024
Financial Expenses, Net [Abstract]
Financial expenses, net	Note 11. Financial expenses, net Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Financial income: Interest on deposits 5,470 3,187 Foreign currency translation differences 245 755 Marketable securities 2,879 699 Other 7 355 Total Financial income 8,601 4,996 Financial expenses: Remeasurement of liability instruments (120,419 ) (78,953 ) Bank charges (72 ) (158 ) Changes in exchange rates (1,167 ) (631 ) Other (21 ) (80 ) Total Financial expenses (121,679 ) (79,822 ) (113,078 ) (74,826 )

Transactions and Balances with

Transactions and Balances with Related Parties	6 Months Ended
	Jun. 30, 2024
Transactions and Balances with Related Parties [Abstract]
Transactions and Balances with Related Parties	Note 12. Transactions and Balances with Related Parties SUN Corporation, the Company’s primary shareholder is also a reseller of the Company in the Japanese market. a. Transactions with SUN Corporation Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Revenues 2,454 1,957 b. Balances with SUN Corporation June 30, December 31, (Unaudited) Trade Receivables 125 345

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent events	Note 13. Subsequent events On July 17, 2024, the Company completed the acquisition of 100% of the shares of Cyber Technology Services, Inc. (“CyTech”), a US cybersecurity expertise, digital forensics and incident response services company, for the total base consideration of $3.75 million. The acquisition would be accounted for as a business combination. On August 14, 2024, the Company achieved the first trigger event (as defined in the Business Combination Agreement) regarding the price adjustment shares and the restricted sponsor shares by reaching a share price of $12.5 for twenty consecutive trading days’. The company is required to issue outstanding ordinary shares for its Shareholders and release restrictions for its Sponsors of 5,000,000 and 3,000,000, respectively. (See Note 9 for additional information).

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Unaudited interim consolidated financial statements	A. Unaudited interim consolidated financial statements: The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information. In the opinion of management, the unaudited interim consolidated financial statements include all adjustments necessary for a fair presentation. The balance sheet as of December 31, 2023 has been derived from the audited consolidated financial statements of the Company at that date but does not include all information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2023. Results for the six months ended June 30, 2024 are not necessarily indicative of results that may be expected for the year ending December 31, 2024. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2023, have been applied consistently in these unaudited interim condensed consolidated financial statements. Trade Receivable and Allowances Trade receivables are recorded net of credit losses allowance for any potential uncollectible amounts. The Company makes estimates of expected credit and collectability trends for the allowance for credit losses based upon its assessment of various factors, including historical collectability experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers. As of June 30, 2024 and December 31, 2023, the allowances for credit losses of trade receivable were $2,019 The Company writes off receivables when they are deemed uncollectible, having exhausted all collection efforts. Actual collection experience may not meet expectations and may result in increased bad debt expense.
Use of estimates	B. Use of estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods and accompanying notes. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, but are not limited to, the allocation of transaction price among various performance obligation, the fair value of acquired intangible assets and goodwill in a business combination, share-based compensation, unrecognized tax benefits, marketable securities, fair value measurement of restricted sponsor shares liability, price adjustment shares liability and warrant liabilities.
Fair value measurements	C. Fair value measurements The Company accounts for fair value in accordance with ASC 820, “Fair Value Measurements and Disclosures”. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a three-tier hierarchy, which prioritizes the inputs used in measuring fair value as follows: ● Level 1: Quoted prices in active markets for identical assets or liabilities. ● Level 2: Inputs other than Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. ● Level 3: Unobservable inputs for the asset or liability used to measure fair value that are supported by little or no market activity and that re significant to the fair value of the asset or liability at measurement date. The carrying value of trade receivable and payables and the Company’s cash and cash equivalents and short-term deposits, approximates fair value due to the short time to expected payment or receipt of cash.
Revenue recognition	D . Revenue recognition The Company’s revenues are comprised of four main categories: (a) Subscription Services, including support services (updates, upgrades and technical support) on term-based licenses; (b) Term Licenses; (c) other non-recurring; and (d) professional services. The Company recognizes revenue pursuant to the five-step framework contained in ASC 606, Revenue from Contracts with Customers: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract, including whether they are distinct in the context of the contract; (iii) determine the transaction price, including the constraint on variable consideration; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies the performance obligations The Company sells its products to its customers either directly or indirectly through distribution channels all of whom are considered end users. In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services are delivered. The amount of revenue recognized reflects the consideration that the Company expects to receive in exchange for these goods or services. The Company determines that it has a contract with a customer when each party’s rights regarding the products or services to be transferred can be identified, the payment terms for the services can be identified, the Company has Performance obligations promised in a contract are identified based on the products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the products or services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the products and services is separately identifiable from other promises in the contract. The Company’s software licenses either provide its customers the right to use its software for a fixed term, or a perpetual right to use its software, in most cases between a one-year and three-year time frame. The Company concluded that the software license is distinct as the customer can benefit from the software on its own. Subscription revenue is derived from maintenance and support under renewable subscription, fee-based contracts that include unspecified software updates and upgrades released when and if available as well as software support. Customers with active subscriptions are also entitled to our technical customers’ support. Performance obligations related to software maintenance services generally have a consistent continuous pattern of transfer to a customer during the contract period. Other non-recurring revenue derived mostly from hardware sold mainly in conjunction with new software license, perpetual license and usage-based fees. Professional services revenues primarily consist of: (i) certified training classes by Cellebrite Academy; (ii) our advanced services; (iii) implementation of our products in connection with our software licenses and (iv) on premise contracted customer success and technical support. Each of these performance obligations provide benefit to the customer on a standalone basis and are distinct in the context of the contract. The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring products or delivery of services to the customer. Payment terms generally are 30 days. The Company applied the practical expedient in ASC 606 and did not evaluate payment terms of one year or less for the existence of a significant financing component. Revenue is recognized net of any taxes collected from customers which are subsequently remitted to governmental entities (e.g., sales tax and other indirect taxes). The Company does not offer right of return to its contracts. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. For contracts that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation based on the relative standalone selling price (“SSP”) for each performance obligation. The Company uses judgment in determining the SSP for its products and services. The Company typically assesses the SSP for its products and services on a periodic basis or when facts and circumstances change. To determine SSP, the Company maximizes the use of observable standalone sales and observable data, where available. In instances where performance obligations do not have observable standalone sales, the Company utilizes available information that may include the entity specific factors such as assessment of historical data of bundled sales of software licenses with other promised goods and services, and pricing strategies to estimate the price the Company would charge if the products and services were sold separately. The Company satisfies performance obligations either over time or at a point in time depending on the nature of the underlying promise. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised good or service to a customer. Revenues related to the license for proprietary software are recognized when the control over the license is provided to the customer and the license term begins. Revenue related to software update and upgrades are recognized ratably over the service period. Revenues related to other professional services are recognized as services are performed.
Recently issued accounting pronouncements	E. Recently issued accounting pronouncements Recently issued accounting pronouncements not yet adopted: In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements through enhanced disclosures about significant segment expenses on an interim and annual basis. All disclosure requirements of ASU 2023-07 are required for entities with a single reportable segment. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods for the fiscal years beginning after December 15, 2024, and should be applied on a retrospective basis to all periods presented. Early adoption is permitted. The Company is currently evaluating the effect of adopting the ASU on its disclosures. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis. The Company is currently evaluating the effect of adopting the ASU on its disclosures.
Concentrations of credit risk	F. Concentrations of credit risk Financial instruments that potentially expose the Company and its subsidiaries to concentrations of credit risk consist principally of cash and cash equivalents, short-term investments, trade receivables and other receivables. The majority of the Company’s cash and cash equivalents are invested in deposits mainly in dollars with major international banks. Generally, these cash and cash equivalents and short-term investment may be redeemed upon demand. Management believes that the financial institutions that hold the Company’s and its subsidiaries’ cash and cash equivalents are institutions with high credit standing, and accordingly, minimal credit risk exists with respect to these assets. The Company’s trade receivables are geographically diversified and derived from sales to customers all over the world. The Company mitigates its credit risks by performing an ongoing credit evaluations of its customers’ financial conditions. The Company and its subsidiaries generally do not require collateral; however, in certain circumstances, the Company and its subsidiaries may require letters of credit, additional guarantees or advance payments. The Company’s marketable securities consist of investments in government, corporate and government sponsored enterprises debentures. The Company’s investment policy, approved by the Board of Directors, limits the amount that the Company may invest in any one type of investment, or issuer, thereby reducing credit risk concentrations. The Company enters into foreign currency forward and option contracts intended to protect cash flows resulting from scheduled payments such as payroll and rent related expenses against the volatility in value of forecasted non-dollar currency. The derivative instruments hedge a portion of the Company's non-dollar currency exposure.

Marketable securities (Tables)

Marketable securities (Tables)	6 Months Ended
	Jun. 30, 2024
Marketable securities [Abstract]
Schedule of Marketable Securities	Marketable securities consisted of the following: As of June 30, 2024 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (Unaudited) Corporate bond 48,648 — (209 ) 48,439 Agency bond 58,714 2 (161 ) 58,555 Treasury bills 10,029 — (1 ) 10,028 US Government 15,303 — (43 ) 15,260 Total 132,694 2 (414 ) 132,282 As of December 31, 2023 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Corporate bond 18,521 57 (29 ) $ 18,549 Agency bond 40,487 63 (64 ) $ 40,486 US Government 8,538 13 (34 ) $ 8,517 Total 67,546 133 (127 ) 67,552
Schedule of Company’s Marketable Securities by Contractual Maturities	The following table summarizes the Company’s marketable securities by contractual maturities: June 30, (Unaudited) Due in 1 year or less $ 71,630 Due in 1 year through 2 years 60,652 Total $ 132,282

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments [Abstract]
Schedule of Accumulated Other Comprehensive Income and Reclassified as Cost of Revenues and Operating Expenses	These transactions are effective and, as a result, gain or loss on the derivative instruments are reported as a component of accumulated other comprehensive income and reclassified as Cost of revenues and Operating expenses, at the time that the hedged income/expense is recorded. Net Notional amount Fair value June 30, December 31, June 30, December 31, (Unaudited) (Unaudited) Option contracts to hedge payroll expenses NIS 26,370 32,158 29 995
Schedule of Derivatives in Foreign Exchange Cash Flow Hedging Relationships	The fair value of the Company's outstanding derivative instruments on June 30, 2024 and December 31, 2023 is summarized below: Fair value of derivative instruments June 30, December 31, 2024 2023 Balance Sheet line item (Unaudited) Derivative liabilities: Foreign exchange option contracts Prepaid expenses and other current assets $ 291 $ 1,159 Foreign exchange option contracts Other account payable $ (262 ) $ (164 )
Schedule of Derivative Instruments in Cash Flow Hedging Relationship on Other Comprehensive Loss	The effect of derivative instruments in cash flow hedging relationship on other comprehensive loss for the six month ended and , is summarized below: Amount of loss recognized in other comprehensive loss on derivative, net of tax Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Derivatives in foreign exchange cash flow hedging relationships: Forward contracts — (151 ) Option contracts (652 ) (520 ) $ (652 ) $ (671 )
Schedule of Derivatives in Foreign Exchange Cash Flow Hedging Relationships	Derivatives in foreign exchange cash flow hedging relationships for the six month ended and , is summarized below: Amount of gain reclassified from other comprehensive income into (expenses) income, net of tax Six months ended June 30, 2024 2023 Statements of income line (Unaudited) (Unaudited) Option contracts to hedge payroll and facility expenses Cost of revenues and operating expenses (198 ) 405 Forward contracts to hedge payroll and facility expenses Cost of revenues, operating expenses and financial expenses — 292 $ (198 ) $ 697

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of the Components of Operating Lease Costs	The components of operating lease costs were as follows: Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Operating lease cost $ 2,782 $ 2,485 Short-term lease cost 93 135 Variable lease cost 166 76 Total net lease costs $ 3,041 $ 2,696
Schedule of Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases is as follows: June 30, December 31, 2024 2023 (Unaudited) Operating lease ROU assets $ 11,708 $ 14,260 Operating lease liabilities, current $ 4,521 $ 4,972 Operating lease liabilities, long-term $ 7,155 $ 9,157 Weighted average remaining lease term (in years) 4.63 4.59 Weighted average discount rate 2.73 % 2.48 %
Schedule of Minimum Lease Payments for the Company’s ROU Assets	Minimum lease payments for the Company’s ROU assets over the remaining lease periods as of June 30, 2024, are as follows: Operating Leases 2024 $ 3,012 2025 4,687 2026 2,279 2027 1,196 2028 and thereafter 3,417 Total undiscounted lease payments 14,591 Less: imputed interest (2,915 ) Present value of lease liabilities $ 11,676

Shareholders_ Equity (Tables)

Shareholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Shareholders’ Equity [Abstract]
Schedule of Company’s Option Activity	A summary of the status of options under the Plan as of June 30, 2024 and changes during the relevant period ended on that date is presented below: Number of Weighted- Weighted- Aggregate (Unaudited) Outstanding at December 31, 2023 15,728,176 $ 3.83 6.23 75,997 Granted 769,008 10.41 Exercised 2,487,028 2.80 Forfeited 122,823 5.95 Expired 5,297 8.27 Outstanding at June 30, 2024 13,882,036 $ 4.36 6.15 105,409 Exercisable at June 30, 2024 9,905,245 $ 3.21 5.06 86,556
Schedule of Status of RSUs Under the Plan	A summary of the status of RSUs under the Plan as of June 30, 2024 and changes during the relevant period ended on that date is presented below : June 30, (Unaudited) Unvested at beginning of year 8,160,149 Granted 2,547,701 Vested 1,708,047 Forfeited 518,079 Unvested at end of the period 8,481,724
Schedule of Weighted-Average Assumptions for Options Granted to Employees and Non-Employees	The Company used the following weighted-average assumptions for options granted to employees and non-employees: Six months ended 2024 Contractual period in years 10 Volatility 45.9% - 50.1% Risk free interest rate 4.2% - 4.4% Dividend yield 0% Exercise price $9.25 - $11.53 Fair value of Ordinary Share $9.25 - $11.53 Expected term 6.12
Schedule of Equity-Based Compensation Expense	T Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Cost of revenues $ 1,093 $ 800 Research and development 3,071 2,281 Sales and marketing 4,391 3,179 General and administrative 3,696 2,797 12,251 9,057

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Net Loss Per Share [Abstract]
Schedule of Computation of Basic Losses Per Share	The following table sets forth the computation of basic losses per share: Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Numerator: Net loss $ (95,183 ) $ (72,953 ) Basic net loss attributable to Ordinary shareholders (95,183 ) (72,953 ) Basic net loss attributable to Restricted sponsor shares — — Denominator: Weighted average number of Ordinary Shares used in computing basic loss per share 197,840,662 187,239,136 Basic net loss per share of Ordinary shareholders $ (0.48 ) $ (0.37 ) Weighted average number of Ordinary Shares used in computing diluted net loss per share 197,840,662 187,239,136 Diluted loss per share of Ordinary shareholders $ (0.48 ) $ (0.37 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Measurements [Abstract]
Schedule of Assets and Liabilities Fair ValueSchedule of Price Adjustment Shares, and the Restricted Sponsor Shares	The following table presents information about the Company’s assets and liabilities fair value at June 30, 2024 and December 31, 2023 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: As of June 30, 2024 Fair value measurements using input type Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 59,214 $ — $ — $ 59,214 Commercial deposits — 756 — 756 Marketable securities: Corporate and Agency bonds — 106,994 — 106,994 Treasury bills 10,028 10,028 US Government — 15,260 — 15,260 Foreign currency derivative contracts — 291 — 291 Total financial assets $ 59,214 $ 133,329 $ — $ 192,543 Liabilities: Restricted Sponsor Shares $ — $ — $ (75,230 ) $ (75,230 ) Price Adjustment Shares — — (134,758 ) (134,758 ) Public Warrants (57,798 ) — — (57,798 ) Private Placement Warrants — — (35,712 ) (35,712 ) Foreign currency derivative contracts — (262 ) — (262 ) Total financial liabilities $ (57,798 ) $ (262 ) $ (245,700 ) $ (303,760 ) As of December 31, 2023 Fair value measurements using input type Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 120,969 $ — $ — $ 120,969 Commercial deposits — 3,260 — 3,260 Marketable securities: Corporate and Agency bonds — 59,035 — 59,035 US Government — 8,517 — 8,517 Foreign currency derivative contracts — 1,159 — 1,159 Total financial assets $ 120,969 $ 71,971 $ — $ 192,940 Liabilities: Restricted Sponsor Shares $ — $ — $ (47,247 ) $ (47,247 ) Price Adjustment Shares — — (81,715 ) (81,715 ) Public Warrants (31,399 ) — — (31,399 ) Private Placement Warrants — — (22,718 ) (22,718 ) Foreign currency derivative contracts — (164 ) — (164 ) Total financial liabilities $ (31,399 ) $ (164 ) $ (151,680 ) $ (183,243 )
Schedule of Warrants Liability	The warrants liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in our statement of comprehensive loss. Public Warrants Private Placement Total Warrant (Unaudited) Balance, December 31, 2023 $ 31,399 $ 22,718 $ 54,117 Change in fair value of warrant liability 26,399 12,994 39,393 Balance, June 30, 2024 $ 57,798 $ 35,712 $ 93,510
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs	The following table provides quantitative information regarding Level 3 fair value measurements inputs as their measurement dates: As of As of December 31, (Unaudited) Number of private placement warrants 9,666,667 9,666,667 Exercise price $ 11.5 $ 11.5 Share price $ 11.95 $ 8.66 Expiration term (in years) 2.16 2.66 Volatility 44.2 % 51.9 % Risk-free Rate 4.72 % 4.10 % Dividend yield 0 % 0 %
Schedule of Assets and Liabilities Fair ValueSchedule of Price Adjustment Shares, and the Restricted Sponsor Shares	The Company has determined that the price adjustment shares, and the restricted sponsor shares should be accounted for as liabilities measured at fair value through earnings since the restricted sponsor shares and the price adjustment shares are not eligible to be classified as equity pursuant to ASC 815-40 Restricted sponsor Price adjustment Total (Unaudited) Balance, December 31, 2023 $ 47,247 $ 81,715 $ 128,962 Change in fair value of warrant liability 27,983 53,043 81,026 Balance, June 30,2024 $ 75,230 $ 134,758 $ 209,988
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs	The following table provides quantitative information regarding Level 3 fair value measurements inputs as their measurement dates: June 30, 2024 December 31, 2023 Restricted Price Restricted Price (Unaudited) Number of shares 7,500,000 15,000,000 7,500,000 15,000,000 Share price $12.5-$30 $12.5-$17.5 $12.5-$30 $12.5-$17.5 Remaining exercise period 4.16 2.16 4.66 2.66 Share value $6.32-$11.27 $7.28-$10.61 $3.62-$7.17 $4.47-$6.31

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2024
Revenues [Abstract]
Schedule of Disaggregated Revenue by Geographical Areas	The following table provides information about disaggregated revenue by geographical areas Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) EMEA $ 65,096 $ 52,141 America 97,368 77,223 APAC 22,832 18,554 Total $ 185,296 $ 147,918
Schedule of Contract Liabilities from Contracts with Customers	The following table provides information about accounts receivable, contract assets, and contract liabilities from contracts with customers: June 30, December 31, (Unaudited) Contract liabilities, current $ 183,938 $ 195,725 Contract liabilities, non-current 42,369 $ 47,098

Financial Expenses, Net (Tables

Financial Expenses, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Financial Expenses, Net [Abstract]
Schedule of Financial Expenses, Net	Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Financial income: Interest on deposits 5,470 3,187 Foreign currency translation differences 245 755 Marketable securities 2,879 699 Other 7 355 Total Financial income 8,601 4,996 Financial expenses: Remeasurement of liability instruments (120,419 ) (78,953 ) Bank charges (72 ) (158 ) Changes in exchange rates (1,167 ) (631 ) Other (21 ) (80 ) Total Financial expenses (121,679 ) (79,822 ) (113,078 ) (74,826 )

Transactions and Balances wit_2

Transactions and Balances with Related Parties (Tables)	6 Months Ended
	Jun. 30, 2024
Transactions and Balances with Related Parties [Abstract]
Schedule of Transactions with SUN Corporation	Transactions with SUN Corporation Six months ended June 30, 2024 2023 (Unaudited) (Unaudited) Revenues 2,454 1,957
Schedule of Balances with SUN Corporation	Balances with SUN Corporation June 30, December 31, (Unaudited) Trade Receivables 125 345

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Allowances for credit losses	$ 2,019	$ 1,583

Marketable securities (Details)

Marketable securities (Details) - Schedule of Marketable Securities - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Amortized cost Total	$ 132,694	$ 67,546
Gross unrealized gains Total	2	133
Gross unrealized losses Total	(414)	(127)
Fair value	132,282	67,552
Corporate bond [Member]
Marketable Securities [Line Items]
Amortized cost Total	48,648	18,521
Gross unrealized gains Total		57
Gross unrealized losses Total	(209)	(29)
Fair value	48,439	18,549
Agency bond [Member]
Marketable Securities [Line Items]
Amortized cost Total	58,714	40,487
Gross unrealized gains Total	2	63
Gross unrealized losses Total	(161)	(64)
Fair value	58,555	40,486
Treasury bills [Member]
Marketable Securities [Line Items]
Amortized cost Total	10,029
Gross unrealized gains Total
Gross unrealized losses Total	(1)
Fair value	10,028
US Government [Member]
Marketable Securities [Line Items]
Amortized cost Total	15,303	8,538
Gross unrealized gains Total		13
Gross unrealized losses Total	(43)	(34)
Fair value	$ 15,260	$ 8,517

Marketable securities (Detail_2

Marketable securities (Details) - Schedule of Company’s Marketable Securities by Contractual Maturities $ in Thousands	Jun. 30, 2024 USD ($)
Schedule of Company’s Marketable Securities by Contractual Maturities [Abstract]
Due in 1 year or less	$ 71,630
Due in 1 year through 2 years	60,652
Total	$ 132,282

Derivative Instruments (Details

Derivative Instruments (Details)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments [Abstract]
Maximum length of time hedged in cash flow hedge	1 year

Derivative Instruments (Detai_2

Derivative Instruments (Details) - Schedule of Accumulated Other Comprehensive Income and Reclassified as Cost of Revenues and Operating Expenses - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Net Notional amount [Member]
Schedule of Accumulated Other Comprehensive Income and Reclassified as Cost of Revenues and Operating Expenses [Line Items]
expenses NIS	$ 26,370	$ 32,158
Fair Value [Member]
Schedule of Accumulated Other Comprehensive Income and Reclassified as Cost of Revenues and Operating Expenses [Line Items]
expenses NIS	$ 29	$ 995

Derivative Instruments (Detai_3

Derivative Instruments (Details) - Schedule of Fair Value Derivatives Instruments and Foreign Exchange Cash Flow Hedging Relationships - Foreign Exchange Option [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Prepaid Expenses and Other Current Assets [Member]
Derivative liabilities:
Foreign exchange option contracts	$ 291	$ 1,159
Other account payable [Member]
Derivative liabilities:
Foreign exchange option contracts	$ (262)	$ (164)

Derivative Instruments (Detai_4

Derivative Instruments (Details) - Schedule of Derivative Instruments in Cash Flow Hedging Relationship on Other Comprehensive Loss - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Derivative Instruments in Cash Flow Hedging Relationship on Other Comprehensive Loss [Line Items]
Total	$ (652)	$ (671)
Forward contracts [Member]
Schedule of Derivative Instruments in Cash Flow Hedging Relationship on Other Comprehensive Loss [Line Items]
Total		(151)
Option contracts [Member]
Schedule of Derivative Instruments in Cash Flow Hedging Relationship on Other Comprehensive Loss [Line Items]
Total	$ (652)	$ (520)

Derivative Instruments (Detai_5

Derivative Instruments (Details) - Schedule of Derivatives in Foreign Exchange Cash Flow Hedging Relationships - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Derivatives in Foreign Exchange Cash Flow Hedging Relationships [Line Items]
Other comprehensive income into (expenses) income, net of tax	$ (198)	$ 697
Option contracts [Member] | Cost of revenues and operating expenses [Member]
Schedule of Derivatives in Foreign Exchange Cash Flow Hedging Relationships [Line Items]
Other comprehensive income into (expenses) income, net of tax	$ (198)	405
Forward Contracts [Member] | Cost of revenues, operating expenses and financial expenses [Member]
Schedule of Derivatives in Foreign Exchange Cash Flow Hedging Relationships [Line Items]
Other comprehensive income into (expenses) income, net of tax		$ 292

Leases (Details)

Leases (Details)	Jun. 30, 2024
Leases [Abstract]
Operating lease, remaining lease term	7 years 8 months 12 days
Additional term	1 year

Leases (Details) - Schedule of

Leases (Details) - Schedule of the Components of Operating Lease Costs - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of the Components of Operating Lease Costs [Abstract]
Operating lease cost	$ 2,782	$ 2,485
Short-term lease cost	93	135
Variable lease cost	166	76
Total net lease costs	$ 3,041	$ 2,696

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Supplemental Balance Sheet Information Related to Operating Leases - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Supplemental Balance Sheet Information Related to Operating Leases [Abstract]
Operating lease ROU assets	$ 11,708	$ 14,260
Operating lease liabilities, current	4,521	4,972
Operating lease liabilities, long-term	$ 7,155	$ 9,157
Weighted average remaining lease term (in years)	4 years 7 months 17 days	4 years 7 months 2 days
Weighted average discount rate	2.73%	2.48%

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of Minimum Lease Payments for the Company’s ROU Assets $ in Thousands	Jun. 30, 2024 USD ($)
Schedule of Minimum Lease Payments for the Company’s ROU Assets [Abstract]
2024	$ 3,012
2025	4,687
2026	2,279
2027	1,196
2028 and thereafter	3,417
Total undiscounted lease payments	14,591
Less: imputed interest	(2,915)
Present value of lease liabilities	$ 11,676

Shareholders_ Equity (Details)

Shareholders’ Equity (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 $ / shares	Jun. 30, 2024 ₪ / shares	Dec. 31, 2023 ₪ / shares shares
Shareholders’ Equity [Line Items]
Ordinary shares authorized | shares	3,454,112,863			3,454,112,863
Common stock par value | ₪ / shares			₪ 0.00001	₪ 0.00001
Weighted average fair values at options granted | $ / shares	$ 5.5	$ 2.65
Aggregate number of shares issued | shares	1,871,687
Unrecognized compensation costs | $	$ 64,726
Weighted average period	2 years 11 months 23 days
Restricted Stock Units (RSUs) [Member]
Shareholders’ Equity [Line Items]
Weighted average fair value at restricted stock units | $ / shares		$ 9.64

Shareholders_ Equity (Details)

Shareholders’ Equity (Details) - Schedule of Company’s Option Activity - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Dec. 31, 2023	Jun. 30, 2024
Schedule of Company’s Option Activity [Abstract]
Number of options, Outstanding beginning	15,728,176
Weighted- average exercise price, Outstanding beginning	$ 3.83
Weighted- average remaining contractual term (in years), Outstanding beginning	6 years 2 months 23 days	6 years 1 month 24 days
Aggregate intrinsic value, Outstanding beginning	$ 75,997
Number of options, Granted		769,008
Weighted- average exercise price, Granted		$ 10.41
Number of options, Exercised		2,487,028
Weighted- average exercise price, Exercised		$ 2.8
Number of options, Forfeited		122,823
Weighted- average exercise price, Forfeited		$ 5.95
Number of options, Expired		5,297
Weighted- average exercise price, Expired		$ 8.27
Number of options, Outstanding ending		13,882,036
Weighted- average exercise price, Outstanding ending		$ 4.36
Weighted- average remaining contractual term (in years), Outstanding ending	6 years 2 months 23 days	6 years 1 month 24 days
Aggregate intrinsic value, Outstanding ending		$ 105,409
Number of options, Exercisable		9,905,245
Weighted- average exercise price, Exercisable		$ 3.21
Weighted- average remaining contractual term (in years), Exercisable		5 years 21 days
Aggregate intrinsic value, Exercisable		$ 86,556

Shareholders_ Equity (Details_2

Shareholders’ Equity (Details) - Schedule of Status of RSUs Under the Plan - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2024 shares
Schedule of Status of RSUs Under the Plan [Line Items]
Unvested at beginning of year	8,160,149
Granted	2,547,701
Vested	1,708,047
Forfeited	518,079
Unvested at end of the period	8,481,724

Shareholders_ Equity (Details_3

Shareholders’ Equity (Details) - Schedule of Weighted-Average Assumptions for Options Granted to Employees and Non-Employees	6 Months Ended
	Jun. 30, 2024 $ / shares
Schedule of Weighted-Average Assumptions for Options Granted to Employees and Non-Employees [Line Items]
Contractual period in years	10 years
Dividend yield	0%
Expected term	6 years 1 month 13 days
Minimum [Member]
Schedule of Weighted-Average Assumptions for Options Granted to Employees and Non-Employees [Line Items]
Volatility	45.90%
Risk free interest rate	4.20%
Exercise price (in Dollars per share)	$ 9.25
Fair value of Ordinary Share (in Dollars per share)	$ 9.25
Maximum [Member]
Schedule of Weighted-Average Assumptions for Options Granted to Employees and Non-Employees [Line Items]
Volatility	50.10%
Risk free interest rate	4.40%
Exercise price (in Dollars per share)	$ 11.53
Fair value of Ordinary Share (in Dollars per share)	$ 11.53

Shareholders_ Equity (Details_4

Shareholders’ Equity (Details) - Schedule of Equity-Based Compensation Expense - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation	$ 12,251	$ 9,057
Cost of revenues [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation	1,093	800
Research and development [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation	3,071	2,281
Sales and marketing [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation	4,391	3,179
General and administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation	$ 3,696	$ 2,797

Net Loss Per Share (Details)

Net Loss Per Share (Details)	6 Months Ended
	Jun. 30, 2024 shares
Net Loss Per Share [Abstract]
Diluted net earnings per share	12,776,024

Net Loss Per Share (Details) -

Net Loss Per Share (Details) - Schedule of Computation of Basic Losses Per Share - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss	$ (95,183)	$ (72,953)
Basic net loss attributable to Ordinary shareholders	(95,183)	(72,953)
Basic net loss attributable to Restricted sponsor shares
Denominator:
Weighted average number of Ordinary Shares used in computing basic loss per share (in Shares)	197,840,662	187,239,136
Basic net loss per share of Ordinary shareholders (in Dollars per share)	$ (0.48)	$ (0.37)
Weighted average number of Ordinary Shares used in computing diluted net loss per share (in Shares)	197,840,662	187,239,136
Diluted loss per share of Ordinary shareholders (in Dollars per share)	$ (0.48)	$ (0.37)

Fair Value Measurements (Detail

Fair Value Measurements (Details)	6 Months Ended
	Jun. 30, 2024
Fair Value Measurements [Abstract]
Dividend yield	0%

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of Assets and Liabilities Fair Value - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cash equivalents:
Money market funds	$ 59,214	$ 120,969
Commercial deposits	756	3,260
Marketable securities:
Corporate and Agency bonds	106,994	59,035
Treasury bills	10,028
US Government	15,260	8,517
Foreign currency derivative contracts	291	1,159
Total financial assets	192,543	192,940
Liabilities:
Restricted Sponsor Shares	(75,230)	(47,247)
Price Adjustment Shares	(134,758)	(81,715)
Public Warrants	(57,798)	(31,399)
Private Placement Warrants	(35,712)	(22,718)
Foreign currency derivative contracts	(262)	(164)
Total financial liabilities	(303,760)	(183,243)
Level 1 [Member]
Cash equivalents:
Money market funds	59,214	120,969
Commercial deposits
Marketable securities:
Corporate and Agency bonds
US Government
Foreign currency derivative contracts
Total financial assets	59,214	120,969
Liabilities:
Restricted Sponsor Shares
Price Adjustment Shares
Public Warrants	(57,798)	(31,399)
Private Placement Warrants
Foreign currency derivative contracts
Total financial liabilities	(57,798)	(31,399)
Level 2 [Member]
Cash equivalents:
Money market funds
Commercial deposits	756	3,260
Marketable securities:
Corporate and Agency bonds	106,994	59,035
Treasury bills	10,028
US Government	15,260	8,517
Foreign currency derivative contracts	291	1,159
Total financial assets	133,329	71,971
Liabilities:
Restricted Sponsor Shares
Price Adjustment Shares
Public Warrants
Private Placement Warrants
Foreign currency derivative contracts	(262)	(164)
Total financial liabilities	(262)	(164)
Level 3 [Member]
Cash equivalents:
Money market funds
Commercial deposits
Marketable securities:
Corporate and Agency bonds
US Government
Foreign currency derivative contracts
Total financial assets
Liabilities:
Restricted Sponsor Shares	(75,230)	(47,247)
Price Adjustment Shares	(134,758)	(81,715)
Public Warrants
Private Placement Warrants	(35,712)	(22,718)
Foreign currency derivative contracts
Total financial liabilities	$ (245,700)	$ (151,680)

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Schedule of Warrants Liability $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Public Warrants [Member]
Schedule of Warrants Liability [Line Items]
Balance	$ 31,399
Change in fair value of warrant liability	26,399
Balance	57,798
Private Placement Warrants [Member]
Schedule of Warrants Liability [Line Items]
Balance	22,718
Change in fair value of warrant liability	12,994
Balance	35,712
Total Warrant liability [Member]
Schedule of Warrants Liability [Line Items]
Balance	54,117
Change in fair value of warrant liability	39,393
Balance	$ 93,510

Fair Value Measurements (Deta_4

Fair Value Measurements (Details) - Schedule of Level 3 Fair Value Measurements Inputs	Jun. 30, 2024 shares	Dec. 31, 2023 shares
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs [Line Items]
Number of private placement warrants (in Shares)	9,666,667	9,666,667
Exercise Price [Member]
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs [Line Items]
Measurement Inputs	11.5	11.5
Share Price [Member]
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs [Line Items]
Measurement Inputs	11.95	8.66
Expiration Term [Member]
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs [Line Items]
Measurement Inputs	2.16	2.66
Volatility [Member]
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs [Line Items]
Measurement Inputs	44.2	51.9
Risk-free Rate [Member]
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs [Line Items]
Measurement Inputs	4.72	4.1
Dividend Yield [Member]
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs [Line Items]
Measurement Inputs	0	0

Fair Value Measurements (Deta_5

Fair Value Measurements (Details) - Schedule of Price Adjustment Shares, and the Restricted Sponsor Shares $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance	$ 128,962
Change in fair value of warrant liability	81,026
Balance	209,988
Restricted sponsor shares [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance	47,247
Change in fair value of warrant liability	27,983
Balance	75,230
Price adjustment shares [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance	81,715
Change in fair value of warrant liability	53,043
Balance	$ 134,758

Fair Value Measurements (Deta_6

Fair Value Measurements (Details) - Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Restricted sponsor shares [Member]
Schedule of Level 3 Fair Value Measurements Inputs [Line Items]
Number of shares (in Shares)	7,500,000	7,500,000
Remaining exercise period	$ 4.16	$ 4.66
Price adjustment shares [Member]
Schedule of Level 3 Fair Value Measurements Inputs [Line Items]
Number of shares (in Shares)	15,000,000	15,000,000
Remaining exercise period	$ 2.16	$ 2.66
Minimum [Member] | Restricted sponsor shares [Member]
Schedule of Level 3 Fair Value Measurements Inputs [Line Items]
Share price	12.5	12.5
Share value	6.32	3.62
Minimum [Member] | Price adjustment shares [Member]
Schedule of Level 3 Fair Value Measurements Inputs [Line Items]
Share price	12.5	12.5
Share value	7.28	4.47
Maximum [Member] | Restricted sponsor shares [Member]
Schedule of Level 3 Fair Value Measurements Inputs [Line Items]
Share price	30	30
Share value	11.27	7.17
Maximum [Member] | Price adjustment shares [Member]
Schedule of Level 3 Fair Value Measurements Inputs [Line Items]
Share price	17.5	17.5
Share value	$ 10.61	$ 6.31

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Revenues [Abstract]
Deferred revenue			$ 242,823	$ 194,882
Revenue recognized	$ 122,089	$ 97,044
Aggregate amount	324,110		331,996
Billed consideration amount	226,307		242,823
Unbilled consideration amount	$ 97,803		$ 89,173

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of Disaggregated Revenue by Geographical Areas - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Disaggregated Revenue by Geographical Areas [Line Items]
Disaggregated revenue	$ 185,296	$ 147,918
EMEA [Member]
Schedule of Disaggregated Revenue by Geographical Areas [Line Items]
Disaggregated revenue	65,096	52,141
America [Member]
Schedule of Disaggregated Revenue by Geographical Areas [Line Items]
Disaggregated revenue	97,368	77,223
APAC [Member]
Schedule of Disaggregated Revenue by Geographical Areas [Line Items]
Disaggregated revenue	$ 22,832	$ 18,554

Revenues (Details) - Schedule_2

Revenues (Details) - Schedule of Contract Liabilities from Contracts with Customers - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Contract Liabilities From Contracts With Customers [Abstract]
Contract liabilities, current	$ 183,938	$ 195,725
Contract liabilities, non-current	$ 42,369	$ 47,098

Financial Expenses, Net (Detail

Financial Expenses, Net (Details) - Schedule of Financial Expenses, Net - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Financial income:
Interest on deposits	$ 5,470	$ 3,187
Foreign currency translation differences	245	755
Marketable securities	2,879	699
Other	7	355
Total Financial income	8,601	4,996
Financial expenses:
Remeasurement of liability instruments	(120,419)	(78,953)
Bank charges	(72)	(158)
Changes in exchange rates	(1,167)	(631)
Other	(21)	(80)
Total Financial expenses	(121,679)	(79,822)
Total financial expenses, net	$ (113,078)	$ (74,826)

Transactions and Balances wit_3

Transactions and Balances with Related Parties (Details) - Schedule of Transactions with SUN Corporation - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenues [Abstract]
Revenues	$ 2,454	$ 1,957

Transactions and Balances wit_4

Transactions and Balances with Related Parties (Details) - Schedule of Balances with SUN Corporation - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Balances with SUN Corporation [Abstract]
Trade Receivables	$ 125	$ 345

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Thousands	Aug. 14, 2024	Jul. 17, 2024
Subsequent Events [Line Items]
Shareholders shares required to issue	5,000,000
Restricted sponsor shares	3,000,000
Cyber Technology Services, Inc. [Member]
Subsequent Events [Line Items]
Acquisition percentage		100%
Total base consideration (in Dollars)		$ 3,750
Share price (in Dollars per share)	$ 12.5